International Assets Investment Management LLC Makes New $11.06 Million Investment in First Trust Institutional Preferred Securities and Income ETF $FPEI

International Assets Investment Management LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the third quarter, HoldingsChannel.com reports. The fund acquired 600,000 shares of the company’s stock, valued at approximately $11,064,000.

Other large investors have also modified their holdings of the company. Smith Chas P & Associates PA Cpas purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth about $44,684,000. Bank of America Corp DE increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 29.3% in the 1st quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock valued at $114,330,000 after purchasing an additional 1,364,824 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth about $17,582,000. Essex LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth about $11,825,000. Finally, Royal Bank of Canada raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 7.0% in the 1st quarter. Royal Bank of Canada now owns 5,375,215 shares of the company’s stock worth $102,128,000 after purchasing an additional 351,265 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of FPEI stock opened at $18.48 on Friday. The business’s 50 day moving average is $18.68 and its two-hundred day moving average is $19.12. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $18.29 and a 12-month high of $19.61.

First Trust Institutional Preferred Securities and Income ETF Company Profile

The First Trust Institutional Preferred Securities and Income ETF (FPEI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed to provide current income and total return by investing in global institutional preferred and income-producing debt securities. FPEI was launched on Aug 22, 2017 and is managed by First Trust.